Aah I see, it's hard to pick up on the camera but the paint is bubbling a lot around the hole. I wonder how it started though.. No holes on the other side as far as I could see, so wonder where dirt and **** came in from.I was joking around looks to me like someone smeared some bondo over the rust and threw some paint over it - usually when you see a rust hole like that the rust is bubbling out from under the paint - in that pic it looks pretty smooth so thats another reason I thought someone tried a prior hack-ish repair (not you!)
Really want to find the cause, since I don't want rust to come through again in a few years after I fix it.
Hopefully be ordering the quarter panels and this one next month. Then get it welded in and re-painted. The front grille will also be painted black while I'm at it.